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Jan 17, 2013
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] [applause] [applause] >> former senators kent conrad and judd gregg lead a discussion on debt and deficit issues like it 8:30 a.m. here on c-span 2. at 1:00 p.m. eastern, new immigration legislation, live from the national press club on c-span 2. >> why did you write a book about your experience? >> it was an important part of history. i felt the fdic perspective should be brought to bear. there had been some other accounts of the crisis that i thought were not completely accurate, especially in terms of what we did and what i did so with the was important for a historical record to present our perspective and also, currently, for people to understand that there were different policy choices, a different policy options and disagreements and that if we want to prevent this crisis from happening again, i really felt the public themselves need to engage more in financial reform and educate themselves better and make it an issue with their elected officials. i wanted to make the book accessible and i had recommendations to help them do that. >> the former head of the federal deposit insurance
] [applause] [applause] >> former senators kent conrad and judd gregg lead a discussion on debt and deficit issues like it 8:30 a.m. here on c-span 2. at 1:00 p.m. eastern, new immigration legislation, live from the national press club on c-span 2. >> why did you write a book about your experience? >> it was an important part of history. i felt the fdic perspective should be brought to bear. there had been some other accounts of the crisis that i thought were not completely...
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Jan 20, 2013
01/13
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CNN
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like a lot of issue we are dealing with, immigration, how we reduce our deficit have strong feelings. we think if you look at the public on some of these measures, i think knute newtown changed the debate. sadly, it took a tragedy like that seeing a lot of people. by the way you democrats and republicans think differently about this issue, post that tragedy. so i think it's going to take a lot of work, it's not going to be easy. but we think we can get to a point, as we said, i think there are 60 votes in the senate, 219 votes in the house, if the process can just play itself out and we can really get votes on some of these things we think. but it's going to be hard work. >> what's -- as far as you're concerned, the window in a second term for a president to get something done? we certainly hear 14, 16 months and then he's kind of in lame duck status. >> i don't believe that let's look at where we are now, not like casting about -- roaming the halls of the house looking for things to do. whether it is deficit reduction, energy, gun control, safety, immigration, these are all stacked u
like a lot of issue we are dealing with, immigration, how we reduce our deficit have strong feelings. we think if you look at the public on some of these measures, i think knute newtown changed the debate. sadly, it took a tragedy like that seeing a lot of people. by the way you democrats and republicans think differently about this issue, post that tragedy. so i think it's going to take a lot of work, it's not going to be easy. but we think we can get to a point, as we said, i think there are...
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Jan 18, 2013
01/13
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leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some people. >> with the white house refusing to negotiate spending cuts and the democrat controlled senate unlikely to pass a budget as part of a long-term deal to raise the tet ceiling, pat toomey of pennsylvania is reintroducing legislation he says will avert the u.s. from defaulting on the debt. >> we must prioritize three categories of payments. one would be debt service, interest on the debt so we would haven't default. a second would be social curt payment to seniors so they don't worry whether the check is coming or not. the third is pay for the active duty military personnel. >> the white house is
leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some...
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Jan 14, 2013
01/13
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. >> reporter: president obama stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way that the american people do. you don't -- now, if congress want, to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. >> reporter: in this press conference that was called last minute in the east room, president obama said he will negotiate a deal on deficit reduction but not, as he put it, quote, with a gun to the head of the american people. as you know, joe, republicans are saying they're
. >> reporter: president obama stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without...
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reduction at this is so cool the part of the gods of the deficit reduction in one sentence which would give consumers the ability to opt into it into a government run health insurance plan in the obamacare exchanges bill sponsored congresswoman jan schakowsky said of the bill quote the public option deficit reduction act will give health care consumers more choices and lower their premiums and by providing a low cost alternative to private insurance it would put pressure on all insurers to lower their premiums in order to compete so is in the public option the best way to lower health care costs the united states at no why not we are already at a point where we're looking at a bill to fix a problem that's already been created as we saw law just this week democrats and republicans in the in congress are faced with having to update the mandate because as it stands they're not going to be able to get enough money to fully fund the system that they've already so let's toss the public option in there it's going to be less expense is the ready is forcing or when the make a purchase and it's
reduction at this is so cool the part of the gods of the deficit reduction in one sentence which would give consumers the ability to opt into it into a government run health insurance plan in the obamacare exchanges bill sponsored congresswoman jan schakowsky said of the bill quote the public option deficit reduction act will give health care consumers more choices and lower their premiums and by providing a low cost alternative to private insurance it would put pressure on all insurers to...
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Jan 20, 2013
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you sll have an $800 billi deficit. it would likely shrink the ecomy so you're not would b be smaller. we're getting to the point -- we cannot tax ouray out. that is why we wilill be downgraded.. >> that is it for our roundtable. we will be back with some closing notes after the break. >> thank you for joining us. you have options on how to connect with "washington business report." twter, facebook, and youan find a streaeamingersi of the show on wjla.com. we hope to see you back again next sunday. thank you for joining us. ♪ ♪ ♪ ♪ [ multiple sounds making melodic tune ] ♪ ♪ [ male announcer ] at northrop grumman, every innovation every solution comes together for a single purpose -- to make the world a safer place. that's the value of performance. northrop grumman. o0 c1 we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ ♪ it means cleaeaner, cheaper american-made e energy. but we've got to be careful how we get it. design the wells to be safe. thousands of
you sll have an $800 billi deficit. it would likely shrink the ecomy so you're not would b be smaller. we're getting to the point -- we cannot tax ouray out. that is why we wilill be downgraded.. >> that is it for our roundtable. we will be back with some closing notes after the break. >> thank you for joining us. you have options on how to connect with "washington business report." twter, facebook, and youan find a streaeamingersi of the show on wjla.com. we hope to see...
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Jan 20, 2013
01/13
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you're going to need more revenues as well as more cuts to get the deficit down. and i've talked to leader reid. i've talked to budget chair murray. we're going to do a budget this year. and it's going to have revenues in it. and our republican colleagues better get used to that fact. >> senator cruz? >> david, i'll mention there was an area of substantial agreement with what chuck just said. he said we should never, ever compromise the full faith and credit of the united states. i agree. and in fact, there is a bill that i am co-sponsoring, the full faith and credit act, which provides that, regardless of what happens to the debt ceiling, the united states will always, always, always meet its debt. we will never default on its debt. that was introduced in 2010. it didn't pass because harry reid and president obama didn't want it to pass. they wanted to raise the specter of a default to use. so, chuck, you and i could make news right now on national television, would you agree to support the full faith and credit act and take the possibility of a default off the t
you're going to need more revenues as well as more cuts to get the deficit down. and i've talked to leader reid. i've talked to budget chair murray. we're going to do a budget this year. and it's going to have revenues in it. and our republican colleagues better get used to that fact. >> senator cruz? >> david, i'll mention there was an area of substantial agreement with what chuck just said. he said we should never, ever compromise the full faith and credit of the united states. i...
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Jan 20, 2013
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the budget hasn't been balanced in multiyears and the deficit is over a trillion dollars . every man, woman and child. i had my fifth grandchild and that baby was born with $50,000 worth of debt if we were to pay it off today. every man and woman and child has that worth of debt. that is uncon69able and we have to stop kicking the can down the road and we have to solve the problem and do whatever it takes to get us back on the fiscal path again. >> i want to talk about it now you come back and see a different thing. what is the biggest difference you are seeing coming back the second time? >> we passed a lot more rules on ourselves. we reduced our budget and exact opposite is happening to our government. it is gone crazy with regulation and restriction, but the part that is most alarmming is the amount of money that we are print one day will explode. we can't continue to print money. we have fancy names for it. it is quantitative easing and it is really printing money. wrim bay way has a trillion dollar note and you buy a loaf of bread everybody is happily singing . we will
the budget hasn't been balanced in multiyears and the deficit is over a trillion dollars . every man, woman and child. i had my fifth grandchild and that baby was born with $50,000 worth of debt if we were to pay it off today. every man and woman and child has that worth of debt. that is uncon69able and we have to stop kicking the can down the road and we have to solve the problem and do whatever it takes to get us back on the fiscal path again. >> i want to talk about it now you come...
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Jan 16, 2013
01/13
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deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal retiree who have 50% longer retirement than encouraging 1895. so this is a serious issue. currently the social security retirement is a pay-as-you-go system that provides for and no benefits and tax collects. this will lead to insolvency, particularly with the increasing number of baby boomers retiring every day is referred to by maia and lewis. others news, nor do i have the program make expertise necessary to suggest solutions, it's important that congress and allies acceptable methods to assure that these programs to retirees. reforms
deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal...
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Jan 19, 2013
01/13
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is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two candidates, one was more focused on cutting the deficit and reducing our long term debt and one didn't think it was a big concern. the one who didn't think it was a big concern won the election. yes, voters seem to say that is an issue they agree with, but when it came to election day two months ago that certainly wasn't one of the top issues they voted on because they voted for the candidate who wasn't embody go it. >> heather: through his actions, as well. that leads to this, how f or if it should be raised? should the debt limit be raised again, 23%
is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two...
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Jan 21, 2013
01/13
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had on fox news this week over 80 percent of americans said that you cannot sustain trillion dollar deficits indefinitely. i don't think obama cares at all about that. that is not on his agenda. i think he really is a president who believes his mission is to reduce the inequality. he saw reagan increasing in inequality. he is a leveller. obama care was step one. i crease in spending of the government which was a massive increase in spending. increasing taxation especially on the rich is a third item. i think he wanls to contin-- wa continue that. he wants to get to levels of entitlement that will make much more equality between the classes that's where he wants to go. to do it he will have to raise taxes. that will be one of the number one issues on his agenda to raise taxes way beyond where we have been ever since the reagan era. >> juan, how can that be? he has to see the spending problem that we are in. what do you think the thought process is about that since has done some cuts but not enough to make a difference. what do you think his thoughts are on it? >> when you think of some of the
had on fox news this week over 80 percent of americans said that you cannot sustain trillion dollar deficits indefinitely. i don't think obama cares at all about that. that is not on his agenda. i think he really is a president who believes his mission is to reduce the inequality. he saw reagan increasing in inequality. he is a leveller. obama care was step one. i crease in spending of the government which was a massive increase in spending. increasing taxation especially on the rich is a third...
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Jan 15, 2013
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down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor laws, workplace safety laws, environmental regulations to protect, in a sensible fashion, the economy. foreign countries can sell them cheaper the in this country and i think that applies to automobiles as well. maybe the way to have these sensible regulations is to have a sensible tax along the line you are talking about. host: we are talking with freshman democrat from pennsylvania, rep cartwright. next caller. caller: the definition of the fault is not being able to pay your bills. -- the definition of default is not being able to p
down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor...
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Jan 13, 2013
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it seems, he writes in his memoir, a deficit of trust existed between him and the president's men. a former black operations specialist, the general is very slick on the book circuit, blocking and passing adroitly when the questions get into the weeds. his political outlook is liberal, having admittedly voted for obama in 2008. he speaks the language of the left, eshoeing any queries about his dealings with president obama and preferring to emphasize soft power and what he calls his ballistic relationship with people. if the reader is look for an spraipgz of how he was ambushed by rolling stone, the general is mostly mute. a commander naive enough to think a reporter who hears thinks doesn't make them public. he actually said he was surprised by the tone and direction of the article. what is astounding, with all the money and manpower that the pentagon has spent on media relations, all the military strategizing, nobody seems to have gained much sophistication if in dealing with the press since the war on vietnam. he sprinkles the book with great warriors and sages, including winsto
it seems, he writes in his memoir, a deficit of trust existed between him and the president's men. a former black operations specialist, the general is very slick on the book circuit, blocking and passing adroitly when the questions get into the weeds. his political outlook is liberal, having admittedly voted for obama in 2008. he speaks the language of the left, eshoeing any queries about his dealings with president obama and preferring to emphasize soft power and what he calls his ballistic...
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Jan 21, 2013
01/13
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when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support the president's program, but he's not going to get very much support at all among republicans for that. that's a good political point for him, but i don't see it going anywhere. as far as the illegal immigration or making it legal or whatever, reform, i would say there's an opportunity, people like marco rubio, for instance, and others, and also you have the chamber of commerce, you have some republican vested interest. i would say the budget and immigration are the two areas, spending and immigration. >> can he get through some simple things on gun control, if not a ban on assault weapons. tha
when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support...
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Jan 19, 2013
01/13
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i do know we can eliminate the deficit simply slowing down government growth. we don't need to cut government. we simply need to slow it down. if we do that we'll eliminate the annual deficit. >> you hear the argument that is like throwing granny off a cliff. >> i don't think it is. i disagree with it. neil: do you feel attempted to go into politics? >> no. if i ever do i hope somebody talks me out of it. neil: some of the best ideas i ever heard, john are from guys like you. the whole process soils you, oh, my god, i can't deal with it, it is so stupid? >> it is difficult because i found in my own experience when you're very authentic and tell the truth and honest often times get attacked. you get smeared, you, very difficult. takes a lot of courage, i think to go into the political realm these days. neil: will be interesting. put it that way. john mackey. whole foods market cofounder, co-ceo. conscience capitalism. read it. thought to paper and thought that sticks in your head. all right. inauguration on monday. we are there. i'm there all day. we'll get ther
i do know we can eliminate the deficit simply slowing down government growth. we don't need to cut government. we simply need to slow it down. if we do that we'll eliminate the annual deficit. >> you hear the argument that is like throwing granny off a cliff. >> i don't think it is. i disagree with it. neil: do you feel attempted to go into politics? >> no. if i ever do i hope somebody talks me out of it. neil: some of the best ideas i ever heard, john are from guys like you....
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Jan 17, 2013
01/13
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from an important country to exportin
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...
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Jan 13, 2013
01/13
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he said he would cut the deficit in half. they passed the deficit a year ago, about cutting this. why is it not being cut now? i have been told both sides are not getting along, but he is the president, and he needs to lead. i do not understand how there are billions of dollars across the world to different countries. i know we do that for specific reasons, but we should be using some of that money to pay our deficits off. what i do not understand is, why are we continuing to do that, to help everybody else out and we should be taking care of our own country? host: let me show you the front page of the new york times. if we can move over -- we will move it over, here it is right here, a wide shot -- will be focusing on senator hagel in a couple of minutes and looking back at some of the things he has said over his tenure in the u.s. senate. that line from "the new york times" -- also from "the hartford courant" -- "the arizona republic repor" -- some local stories, beginning with "the chicago tribune" -- from "the detroit free press" -- the president will be sworn in. there will b
he said he would cut the deficit in half. they passed the deficit a year ago, about cutting this. why is it not being cut now? i have been told both sides are not getting along, but he is the president, and he needs to lead. i do not understand how there are billions of dollars across the world to different countries. i know we do that for specific reasons, but we should be using some of that money to pay our deficits off. what i do not understand is, why are we continuing to do that, to help...
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Jan 20, 2013
01/13
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combines tough spending cuts with the balanced way to row deuce the deficit -- to reduce the deficit that, of course, includes revenue. includes asking the wealthiest americans in particular to pay their fair share. >> we have been on that issue and the republicans say that issue is behind us when it comes to taxs. >> take a look at what is in the package in terms of spending. additional savings from medicare and medicaid in it. savings from agricultural sub is sidis. the president already signed a trillion dollars of deficit reduction into law and committed to more spending cuts but we can't just cut our way to prosperity. we have toasting to invest in things like -- we have to continue to invest in things like education and energy. he put reducing the deficit in a balanced way to promote jobs for middle class families and that is going to be his guiding principle through the negotiations. >> i want to ask you quickly about the republican idea. would you support it but with the caveat they are telling the senate you haven't passed a budget in more than three years and you need to do
combines tough spending cuts with the balanced way to row deuce the deficit -- to reduce the deficit that, of course, includes revenue. includes asking the wealthiest americans in particular to pay their fair share. >> we have been on that issue and the republicans say that issue is behind us when it comes to taxs. >> take a look at what is in the package in terms of spending. additional savings from medicare and medicaid in it. savings from agricultural sub is sidis. the president...
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Jan 20, 2013
01/13
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WBAL
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it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all looking forward to witnessing the president's inauguration on monday, we thought we'd look back through history at some inauguration firsts. this inauguration will mark the 57th time a president has been sworn into office and like any national tradition, the ceremony has evolved. george washington's inauguration was not only a first for our country, but also the first and only to be rescheduled because congress delayed the election. andrew jackson was first sworn in on the east side of the capitol building and ronald reagan the first on the west. the shortest inauguration dress was george washington's second. six presidents have taken the oath outside washington. geo
it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all looking forward to witnessing the president's inauguration on monday, we thought...
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Jan 15, 2013
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deficit. the president of the united states -- it is laughable that he would talk about republicans not being responsible on debt issues. when this president has been in the white house sin january 20, 2009, and he's yet to do anything significant on social security or medicare. he cut medicare. so he can start a new entitlement program. that's -- not making medicare more sol vent. he doesn't done anything to curb the cost of medical expenses which he said he was going do. he did nothing. he struck back room deals with hospitals, with special interests, and now he's saying republicans are being reckless? no, no. at some point it becomes more reckless to continue raising the debt ceiling without having democrats come forward with a budget, by the president of the united states, coming forward with a plan to save medicare, medicaid, and social security. we had erskine bowles on. he was very clear. steve ratner agrees. zeke emanuel agrees. democrats, good democrats, agree. that medicare and medic
deficit. the president of the united states -- it is laughable that he would talk about republicans not being responsible on debt issues. when this president has been in the white house sin january 20, 2009, and he's yet to do anything significant on social security or medicare. he cut medicare. so he can start a new entitlement program. that's -- not making medicare more sol vent. he doesn't done anything to curb the cost of medical expenses which he said he was going do. he did nothing. he...
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Jan 17, 2013
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it will reduce the deficit. obama care has brought the number of uninsured americans to the lowest level since 2008. however, the law would be fully implemented until 2014. it would put pressure on all insurers to lower their premiums in order to compete. it would also provide immediate relief to small businesses and the federal government and all parts of the economy. for example, former defense secretary robert gates has warned the rising -- he has warned of rising military health care costs for years. >> sharply rising health care costs are consuming an ever-larger share of this department. growing from 19 billion in 2001. >> military health care costs have gone up 300% in the past decade. 2012 was the first year since 1995 military personnel saw an increase in health care premiums. now, there are two things republicans love, the military and reducing the deficit. republican should be thrilled with the public option. how can you make a hundred billion dollar mistake? who's doing the math? will it save or won'
it will reduce the deficit. obama care has brought the number of uninsured americans to the lowest level since 2008. however, the law would be fully implemented until 2014. it would put pressure on all insurers to lower their premiums in order to compete. it would also provide immediate relief to small businesses and the federal government and all parts of the economy. for example, former defense secretary robert gates has warned the rising -- he has warned of rising military health care costs...
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Jan 14, 2013
01/13
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CSPAN
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the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the speaker has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure we are reducing the health care spending, the main driver of the deficit, we can arrive at a package to get this thing done. i am happy to have that conversation. what i will not do is to have that that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you have medicare or medicaid or otherwise/things that the american people do not believe should be slashed that we will threatened to wreck the entire
the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the...
342
342
Jan 14, 2013
01/13
by
MSNBCW
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eye 342
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there's actually been several rounds of deficit reduction worth reviewing. back in 2010 and '11, they put a bunch of continuing resolutions or kind of spending caps onto mostly discretionary programs. in 2011 when we had the debt ceiling debacle, they agreed to the budget control act which was another billion dollars, roughly, of cuts. again, mostly from if not entirely from discretionary programs. and then, of course, we had the fiscal cliff which was $650 billion of revenue increases. so so far, we've actually had $2.4 trillion over a ten-year period of deficit reduction. but about 30% of it has come from rev lienue increases and at the other 70% from come from spending cuts. entirely from discretionary programs. >> what's the budget control act? >> it's what came out of the last debt ceiling debacle when the republicans and the democrats agreed on this trillion dollars of roughly discretionary -- all discretionary spending reductions. but the point is, none of this really touches entitlements. none of it touches the mandatory. and its $2.4 trillion. >> wh
there's actually been several rounds of deficit reduction worth reviewing. back in 2010 and '11, they put a bunch of continuing resolutions or kind of spending caps onto mostly discretionary programs. in 2011 when we had the debt ceiling debacle, they agreed to the budget control act which was another billion dollars, roughly, of cuts. again, mostly from if not entirely from discretionary programs. and then, of course, we had the fiscal cliff which was $650 billion of revenue increases. so so...
67
67
Jan 17, 2013
01/13
by
CSPAN2
tv
eye 67
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impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer retirement than had occurred in 1995. this is a very serious issue. currently the social security retirement is a pay-as-you-go system that provides more annual benefits than the payroll tax collectors. if left alone, this eventually will lead to insolvency particularly with the rapidly increasing number of baby boomers retire in every day as was referred to by maya and louis. there isn't time today nor do i have the proven expertise to suggest specific solutions it's important that the contras and the administration analyze acceptable me
impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer...
141
141
Jan 13, 2013
01/13
by
CNNW
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. >> we have dialogue about the deficit and we have simpson bowles which everybody ignores, and i know that you have written in the op-ed what is reasonable, and what is reasonable in terms of gun control when it comes to states who understand the gun culture and how deeply it is embedded into the culture of some of the states? >> well, it has to be a little bit of the spectrum like your show, but it has to be from both ends of the spectrum and in tend the duly elected officials get together with an open mind and make decisions based on the people they represent. that is where no labels is so important because we have the politics of the right and the left and the center, and with we have forgotten the politics of all problem solving and representing the people in all that we do. what we are doing today is not normal and for the younger generation growing up seeing the way that politics is playing out is not the norm. that is why joe and i coming from the backgrounds we do, you get the right and the left in a roop wheth room and whether it is on guns or anything else,ing what is the pa
. >> we have dialogue about the deficit and we have simpson bowles which everybody ignores, and i know that you have written in the op-ed what is reasonable, and what is reasonable in terms of gun control when it comes to states who understand the gun culture and how deeply it is embedded into the culture of some of the states? >> well, it has to be a little bit of the spectrum like your show, but it has to be from both ends of the spectrum and in tend the duly elected officials get...